You just purchased a hom eand taken out a 410000 mortgage, Financial Management

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You just purchased a hom eand taken out a 410000 mortgage

You just purchased a hom eand taken out a $410,000 mortgage. The mortgage has a 30 year term with monthly payments and an APR (with semi annual compounding) of 7.52%

a) How much will you pay in interest, and how much will you pay in principle, during the first year?

b) how much will you pay in interest, and how much will you pay in priciple during the 20th year? (between 19 and 20th year)

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Financial Management: You just purchased a hom eand taken out a 410000 mortgage

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Financial Management: You just purchased a hom eand taken out a 410000 mortgage

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